Forum

Bank accounts & addresses for stealth suggestions
 

I have been searching for a comment that I had read from a "newer" member. I cannot find this comment now, and idk who said it. The comment was "you do not want to have more than 4 accounts at 1 bank". Is there any merit or truth to this?

It's possible I took it out of context, but I am curious.

Re: How many bank accounts do you have for your stealth accounts?
 

If everything is pretty much one to one (one pp = one eb = one bank account) how do you come up with that many different addresses? Its the one thing I cant figure out.

Re: How many bank accounts do you have for your stealth accounts?
 

I use some addresses that I have access to. I use some addresses that I don't/won't have access to. If a customer has a problem, I usually let them keep the item anyhow and give them a full refund.

Re: How many bank accounts do you have for your stealth accounts?
 

Same - in fact I have a standard business return address to which I receive all returns :)

I do NOT give this address to eB or in any eB e-mails....ever

Re: How many bank accounts do you have for your stealth accounts?
 

This is what I do, What I did is I have a Buying Account with a P.O. Box, also this location allows me to add a "Business Name" so I can accept mail in my Name and Business Name which works perfect.

Re: How many bank accounts do you have for your stealth accounts?
 

I use a few different RETURN DEPT mom and pop PO Box like places address for all returns.

I contact the buyer and tell them how to handle it.

I also in my listing state if you have a return do not return the item until you get a RA ( return authorization ) to do so and you will be given an address to my RETURNS DEPT or credit will not be given.

Have done this for years and works like a charm.

Re: How many bank accounts do you have for your stealth accounts?
 

Can any of you guys give some tips on how to open bank accounts in relation to time and institutions? I have bank accounts in Chase and Wells Fargo now.
Opened up a checking and savings at Wells Fargo last month. Been with Chase for years. I think I got as many as I want to open at chase. Now let's say I go to Citi or BofA now. Can I open one checking and one savings at both institutions at the same time, making 4, and then maybe add 1 checking within the next 45 days with these 2 institutions?

All this, while I add another checking at Wells fargo, making it 5 accounts within a month with 3 institutions?

Is that a safe rate or is this too fast? I'm always reluctant to open another one too fast, but I think I'm doing it too slow.

I try as hard as possible not to hurt my credit score. And no, I have never been late on payment or anything like that. Thanks.

Re: How many bank accounts do you have for your stealth accounts?
 

You can put a return address on the package, or inside.

Also, if a buyer wants to return an item, you can send an RMA as SandyD mentioned, by contacting the buyer through e-mail directly, and not through eb.

You will be able to get your buyer's email from the pp transaction details. However, bear in mind that buyers do not always check those emails.

Re: How many bank accounts do you have for your stealth accounts?
 

Why should we repeat info that is on the forum already and has been repeated MANY times.

I suggest you search posts by jeffweico. He has outlined mnay times great working methods.

Timing is the essence as you seem to understand.

:peace:

Re: Bank accounts & addresses for stealth suggestions
 

@ greenie,

I have searched thru jeffweico. Very informative. But I have not seen anything at the rate of opening. Lets say I want to get to 60-70 accts within a year. What's the best way to approach 5-6 accts in one month? That's like 10 institutions overall. Open 1 acct at a new institution once a month ok? Would it affect credit score? After you add that one institution, add another 1 to each of the previous institutions, that would add several to a month. I didn't see much if any on the rate of opening under the search query "opening bank accts" under username jeffweico. He is overall very informative however.